Eastern Platinum Limited Grants Stock Options and Amends MD&A, Ensuring Accurate Reporting for Q1 2023

  • Eastern Platinum Limited grants 3.8 million stock options to directors, officers, and employees with a vesting period of 90 days.
  • An Amended Management's Discussion and Analysis (MD&A) is filed to correct an error in reporting "Total Tailings Feed (Tons)" for Q1 2023.
  • The restated MD&A does not impact first quarter financial statements, and all other aspects of the MD&A remain unchanged.
Eastern Platinum Limited

Eastern Platinum Limited (TSX: ELR, JSE: EPS) has announced the granting of 3,800,000 stock options to directors, officers, and employees of the company. The stock options, which have a vesting period of 90 days, were issued for a term of five years, set to expire on June 21, 2028. Each option allows the holder to purchase one common share of Eastplats at an exercise price of CDN$0.10.

In addition to the stock option grants, the company revealed that it will be filing an Amended Management’s Discussion and Analysis (MD&A) for the three months ended March 31, 2023. The purpose of this amendment is to correct an error in the original MD&A regarding the reporting of “Total Tailings Feed (Tons)” for Q1 2023. The revised figure is 631,954 tons, as opposed to the previously reported 432,005 tons. The initial figure did not account for the processing of 199,949 tons in March 2023. Importantly, this restatement has no impact on the first quarter financial statements, and all other aspects of the MD&A remain unchanged.

The previously filed MD&A, initially submitted on May 12, 2023, is now superseded by the restated MD&A. Both documents have been filed on SEDAR, the System for Electronic Document Analysis and Retrieval, and can also be accessed on Eastern Platinum Limited’s official website at www.eastplats.com/investors/.

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